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Started: ripley94, 12 Apr 2024 00:57
Last post: jerry004, 3 Jun 2024 04:59
Anyone know why Rockwood don't appear on their list of major shareholders, please?
https://mcsaatchiplc.com/investors
They are the number one small cap trust , might have some idea.
Started: CityWatcher, 13 May 2024 20:23
Last post: CityWatcher, 13 May 2024 20:23
Noticed a large buyer at end of the day. Obviously is following the broker rating on a slightly red day.
https://www.lse.co.uk/ShareBrokerTips.html?shareprice=SAA&share=MC-Saatchi
24-Feb-23 Numis Buy 230.00 270.00 Reiteration
Positive update today. Sp should nudge a little higher imv.
Good to be getting rid of currently loss making businesses from the group as the newish Exec Chair starts to simplify the organisational structure of the company.
I see momentum building here and am thus hoping for a positive outcome for SAA in 2024. GLA
Started: HorisM, 6 Nov 2023 10:22
Last post: HorisM, 6 Nov 2023 10:22
Could we see a takeover of Saatchi?
The ship seems to have turned a corner, and would expect the cheap price to be a big incentive to acquire now.
Started: Montezuma, 14 Jun 2023 09:25
Last post: Montezuma, 14 Jun 2023 09:25
Plenty of buying interest at this price.
Started: Phrontist, 14 Jun 2023 08:35
Last post: Phrontist, 14 Jun 2023 08:37
Sorry, mistyped on mobile!
So why is the SP down to 145p
Great business but what is going on?
Phrontist
Started: x54v, 30 May 2023 18:40
Last post: x54v, 30 May 2023 18:40
“In the latest in our Smart Small Caps series, Jemma Slingo talks to Octopus Investments about why M&C Saatchi has turned a corner…
The shares have yet to recover from the 2019 scandal, which involved overstated revenues and understated costs. However, things are on the up – at least according to Richard Power, head of the quoted smaller companies team at Octopus Investments.
“It has got its mojo back,” he said. “But people are still looking in the rearview mirror.”
Power is enthusiastic. “For the rating it’s on today, and the growth it’s likely to achieve over the next five years, have we got an investment that’s likely to achieve quite significant returns? Absolutely. And I say that acknowledging that we could well see some headwinds in the next 12 or 18 months. At the entry point today, the opportunity is substantial.
Five years feels like a long time for a company with a history of volatility. However, the group is responding well to the new management team, and feels significantly more dynamic than it did a few years ago. The market doesn't seem to have clocked this, and despite its expertise in brand-building, M&C Saatchi is often still portrayed as outdated and slow-moving. Things could be about to change.”
https://www.investorschronicle.co.uk/news/2023/05/30/the-poster-child-of-advertising-is-back-on-investor-s-radars/
https://youtu.be/z6yMYwzpV9M
from 47:10
Started: x54v, 17 Feb 2023 16:15
Last post: x54v, 21 Feb 2023 13:37
Last chunky buy like this at 200p was Vin Murria / ADVT buying
https://investegate.co.uk/advancedadvt-limited--advt-/rns/acquisition-of-shareholding-in-m-c-saatchi-plc/202201050947285080X/
someone likes where we are heading ....3,828,765 Buy*
Oh I really hope not! There is a chance that they may be returning to the dividend list.
Very strong momentum. Another bid on the way?
Started: tp_reading, 1 Nov 2022 17:10
Last post: tp_reading, 1 Nov 2022 17:10
https://www.thisismoney.co.uk/money/markets/article-11373997/M-C-Saatchi-shareholders-vote-against-takeover-Fifteen.html?ico=mol_desktop_money-newtab&molReferrerUrl=https%3A%2F%2Fwww.dailymail.co.uk%2Fmoney%2Findex.html&_ga=2.254061832.1822127792.1666973633-1547527961.1660508319
We don’t need anymore distractions for the time being please!
Started: mppotus, 7 Sep 2022 08:33
Last post: LedZepper, 9 Sep 2022 13:17
All the operational profits went on legal fees. As expected, recruitment has been stalled too. And it’s not all over yet...
Good solid results and progress made. Hopefully reflected in the share price. Overdue a re-rate.
Started: Fishcakes47, 31 Jul 2022 21:34
Last post: Fishcakes47, 7 Aug 2022 17:57
Thanks for replying Whippy1.
It will be interesting to see Next 15 price, past month as been something of a turn around in the overall markets and they need to gain support to rise their SP.
Would the ADVT offer not be the better one currently?
The presentation from ADVT certainly didn’t pull its punches in making out the SAA bod have very self serving renumeration options that don’t serve shareholders, clearly no love lost there and not surprising they are recommending against this offer.
I think ADVT IPO’d in March 21 so they have till March 23 with a possible year extension should shareholders allow it ( my understanding of the FCA rules).
Or reject them both
I personally prefer Next 15 to ADVT......it a real company with real employees and real customers vs a modest pile of cash .....granted with an impressive CEO but from a very different industry and the S4 collapse has practically buried the tech transformation argument
For me its reject both or accept Next 15 and hope the combined group does well .....deciding factor will ne next 15 share price in the next week or so ......does it improve as the deadline closes in? Unfortunately i have a fairly short time horizon for at least 50% of my holding
The other question is if these offers are rejected is that the end or is there a revised offer .....ADVT are slightly trapped with 20+% and the SPAC deadline looming and Next 15 would miss what could be a game changing addition ????
Is it coming up to the point the shareholders need to choose the Next Fifteen or ADVT offer?
I’m not a shareholder however have read one is now at £2 per share. What’s the thoughts of shareholders?
Started: Sanchez599, 25 May 2022 10:10
Last post: Doc83, 17 Jun 2022 09:42
Yes, none of it a surprise to me and predicted from the start. Stock offers for companies are never a great idea, IMO.
Will be interesting to see if those II’s who were backing ADVT, and then rescinded it on the back of NFC’s (at the time) better offer, go back to supporting ADVT!
What a mess, reject the bid they say[ but we will vote for it] and once we are stand alone Vin M can disrupt our strategy which will undermine the business. FFS.
Urraca - do you really think this deal is still going through?
It’s now equivalent to less than £2 per share. No chance. And what I’ve been saying all along. The structure of the deal was all wrong. Far too much stock and not enough cash.
We’ll see who ends up right. I’ll hold my hands up and admit I was wrong if this deal goes through. My guess is no, not on these terms.
I refuted Docs lies and assertion that I 'could not have a reasoned debate' by citing publicly available information, which now means I 'don't want to hear anything but positives'. Lol. I bet Vin is paying you peanuts too, eh Doc? Have you doubled down yet?
andsoforth - a shame. I like good, solid debates on the pros and cons, as well as possible outcomes.
Sadly, every board has a Urraca. Those that don’t want to hear anything but positives.
Started: Sanchez599, 24 May 2022 16:25
Last post: Doc83, 25 May 2022 10:25
Urraca - relentless deramping? LOL!
I’ve only posted 10 times on the SAA board, mostly saying I agree with Sanchez, or that ADVT/NFC might need to sweeten the deal a bit and that ultimately it will hopefully go through!
The SP is nowhere near the bid price. It's c10% below the lower AdVT offer.
No Doc, I think it's your relentless deramping that's dragged the price down.
NFC share price came off, so that won’t have helped, effectively meaning the price of the bid is reduced.
What opportunist bs. Steady all day and then a tree shake on no volume because the US markets are having a panic attack. Very poor form.
Started: joteller, 23 May 2022 13:06
Last post: Sanchez599, 23 May 2022 15:52
More 6 figure buys. Seems pretty apparent some very deep pockets strongly believe a deal is happening. You don't buy big at these levels otherwise.
Joteller - almost impossible to answer that one. It looks like Vin/ADVT are trying to get them to sweeten the deal a little bit. Maybe same stock element but 50-60p cash instead of the current 40p.
It could backfire and as mentioned over the weekend, the board would be more toxic with each other than ever.
I don’t think we’ll see anyone else bid (S4 Capital for example) but never say never.
What are the chances of a final counter offer?
Not an easy pay day just yet.
Plenty that could still happen here, including the NFC share price falling. Given that the offer is so heavily stock based and not cash, that could have a material impact. Market volatility has been such recently that you can't rule that out.
Just had a £400k and a £200k buy land, looks like the big boys loading up for easy pay day
Started: metis20, 23 May 2022 08:21
Last post: joteller, 23 May 2022 12:55
Still some upside on the table, pick up and make 8% easily
NFC continuing to tick up. Seems contradictory for SAA to be so far below even the ADVT offer when the market is clearly showing confidence in NFC as a bidder. Vin's play does look like a case of want me onboard, add a bit more. She doesn't seem against the company as a buyer. Hopefully the next material RNS is a bid increase / best an final.
The slight issue with NFC’s offer is that it is predominantly stock, rather than cash. NFC were at 1025p back in January. I don’t know a huge amount about NFC but the SP seems to have been on quite the run. Were it to go back to that level, the offer would effectively be 207.5p, the same as ADVT’s.
Best guess from here… NFC sweeten the deal a bit for Vin.
NFC sp currently 1308p, so up 42p from the sp at the time of the offer. Pushes the value of the offer up from 247.2pps to 254.1pps.
Just posturing to try and squeeze a bit more out of NFC. They do not actually have enough shares to be sure they can block this, now that their letters of intent have been withdrawn, and irrevocable undertakings revoked. But it would clearly all be much easier if they were onside. How much money would that save? Possibly up to 10p a share - if I were NFC I'd bump it up say another 3p cash per share.
Started: metis20, 22 May 2022 10:11
Last post: metis20, 23 May 2022 08:35
"..significant synergies available to NFC.."
Looks as if, because of those significant synergies, Vin Murria is thinking that SAA is worth more to NFC than to ADVT.
Seems to fly in the face of what the poster who attended the investor conference claimed to have heard.
Taverham - agree with what you’re saying. I suppose she could say she would unlock more value from SAA.
All very messy. Will be interesting to see what the share price does. Probably drop as NFC’s bid bow doesn’t have Vin’s support, which it obviously needs.
Her stance is laughable because she is saying ' the others are offering much more than us but that isnt enough' however we said' we wont offer anymore and are thinking what we should do'.
Well it is make your mind up time you cant have it both ways and btw with your illogical mind I am not surprised the other neds rejected your approaches.
Richjp was there and has summarised what she said over on a d v f n, as Metis said (comment at 9:11 this morning). Well worth checking out.
https://uk.advfn.com/stock-market/london/m-c-saatchi-SAA/share-chat
Vin Murria at 12:30
https://www.ukinvestorshow.com/may-2022-show/
Anyone hear Vin Murria speak at that show?
Started: joteller, 20 May 2022 19:09
Last post: Doc83, 20 May 2022 20:53
joteller - absolutely it’s possible. My gut feeling says there won’t be another party enter the fray, though.
Just wondering is it possible for another offer to enter the arena?
Started: NewDayToday, 20 May 2022 16:46
Last post: Sanchez599, 20 May 2022 20:50
RNS confirms the irrevocable undertakings are toast which suggests the parties involved want to take the higher offer - no increased offer from ADVT. The runway is clear for the NFC offer to be accepted. Barring a 3rd party coming in with a higher offer, it looks to me like it's game on.
Nice return even from these levels thanks to the trading today. Interesting to see how it now opens next week.
Sanchez - I tend to agree with you. But would just add that the BOD are already toxic with each other… look how they slapped down ADVT’s offer on Monday.
I don’t know Vin Murria, but she could make them sweat for a bit before agreeing. I just don’t see how ADVT can match, never mind beat NFC’s offer. And if she can’t match it, she’d surely be cutting off her nose to spite her face and all ADVT shareholders if she rejects it.
ADVT own and have irrevocable undertakings over 26.4% of the shares. This is enough to block a court approved takeover, but not a contractual takeover. I imagine the letters of intent they hold are now not worth the paper they're written on, given the handsomely better offer on the table. Blocking the deal will really annoy those who provided the letters of intent, and the irrevocable undertakings, as well as losing ADVT a very nice windfall gain on their shareholding. It would be a very bad business decision. They may though wish to posture a little to see if they can't squeeze a bit more out of NFC.
Personally I think a deal gets done. There is now a floor for the price. ADVT have to offer more or accept. If they block it, that BoD will be absolutely toxic and everyone will lose. Clearly the BoD like the NFC offer and price so Vin (whose offer is not that attractive) needs to put something more financially attractive together because she doesn't offer the scale up NFC do. For me today is about shs being collected cheaply to pocket the difference. Saw it on BCN, seen on many others. The slow ebb away of the SP is to frustrate and get ppl to bail at lows.
Have read and re read all the RNSs and can’t get mi ‘ed around this sp? Am I looking a gift horse in the mouth?
Started: metis20, 20 May 2022 08:23
Last post: Doc83, 20 May 2022 16:01
Yep, a little strange. And NFC up as well, so offer more like 250p.
Maybe the market concerned Vin Murria/ADVT May block bid. They have the shares to do so.
Remarkable that this is trading this low compared to the offer value. What a shambles lol.
The MM's are doing quite the job at building their commission. Huge amounts of shares being gifted below both offer values.
ADVT will probably accept the offer. They stand to do very well from it and it would boost their ability/firepower to go after any subsequent deal they chose.
NFC is a much better fit.
I bought in here on Monday after watching this for a long time (I previously held ADVT from issue but sold a while back after losing patience them holding the cash for so long).
Was please to see ADVT bid the next day! But wasn't sure it was going to pass... it just didn't look good enough to me. Anyway, I expected it to immediately jump to around 240p (just below the 247.5p bid) and was surprised to see it down at 210p. I doubled up at 215p and am hoping to see 230p.
Not sure what ADVT will do here. Or indeed what they can do. I don't think they have the ability to bid higher than Next 15. Clearly there is no love lost between Vin Murria/ADVT and SAA. So will she dig her heels in and refuse to lend her support to NFC's bid? They need her shares, after all!
I agree Taverham, and am slightly confused why the sp is 10% below the firm offer from Next Fifteen. Not one to look a gift horse in the mouth, I've bought some on that basis.
Started: LedZepper, 20 May 2022 10:17
Last post: LedZepper, 20 May 2022 10:17
Now we know why SAA directors were happy to extend the PUSU deadline. This is a far better outcome for every possible reason, hence the market reaction. So glad I had patience to wait this out. Even ADVT share price has been boosted this morning…
Started: metis20, 20 May 2022 08:20
Last post: Taverham, 20 May 2022 08:24
Looks good to me as next fifteen is a much bigger and financially extablished company than the other lot. Not expecting saa shares to rise to much above £2 though - we shall see.
https://www.londonstockexchange.com/news-article/NFC/offer-for-m-c-saatchi-plc/15461206
"For each M&C Saatchi Share:
0.1637 of a New Next Fifteen Share and 40 pence in cash
The Acquisition values each M&C Saatchi Share at 247.2 pence (the "Acquisition Price") and the entire issued and to be issued ordinary share capital of M&C Saatchi at approximately £310.1 million on a fully diluted basis (the "Acquisition Value") based on the Closing Price per Next Fifteen Share on the Last Practicable Date of 1,266.0 pence."
"The M&C Saatchi Independent Directors are recommending the terms of the Acquisition and consider it superior to the terms of the ADV Offer which they have unanimously rejected. Accordingly the M&C Saatchi Independent Directors urge M&C Saatchi Shareholders to take no action in respect of the ADV Offer."
Started: andsoforth, 17 May 2022 08:06
Last post: andsoforth, 17 May 2022 18:27
Indeed! Also they are stressing that they will modify the LTIP so that it "prioritises and aligns the leadership with the creation of shareholder value ", a real swipe at SAA management profligacy. But this is a people business, and if you are not nice to staff, they depart.
I have said this before, but it is worth remembering that Murria is NOT a software person, but a wheeler dealer, who made her money buying and selling companies at good prices. That is what she wants to do here.
Interesting to note that Octopus and Paradice have “signalled their intent to accept or procure acceptance of the Offer”.
here's my take on the takeover - because saa is much much larger than adv the offer really amounts to the acquirer saying we can run this much better than current bod have faith in us if you want value creation. The existing bod were never going to say actually we are unable to manage things as well as adv into the future so we recommend we recommend the takeover and lose our jobs. How will this play out? No idea just now.
Doesn't really matter. ADVT now going direct to shareholders:
"Having sought the recommendation of the M&C Saatchi Independent Directors since early January, to date that has not been forthcoming. With today's announcement we are seeking the support of M&C Saatchi Shareholders"
Will the M & C board recommend acceptance?
Started: andsoforth, 15 May 2022 20:02
Last post: andsoforth, 15 May 2022 20:02
The PUSU deadline has been pushed back, and we have now seen Canaccord dump around 4 million ADVT shares on behalf of a client, and the SAA price drop by c12% since the announcement. Bad omens!